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Reflecting steady pre-festive demand, private sector lender YES Bank posted 11.6 per cent year-on-year (YoY) growth in the loan and advances to Rs 1.92 trillion in the reporting quarter (Q2). Sequentially, its loan grew by 3.5 five per cent and crossed Rs 1.86 trillion as on September 30, 2022.
Another IndusInd Bank posted a growth of 18 per cent YoY basis at Rs 2.59 trillion in the second quarter of the ongoing financial year 2022. Sequentially, its loan grew by five per cent to over Rs 2.47 trillion as of September 30, 2022.
Reserve Bank of India (RBI)’s data revealed the banking system has shown a strong credit offtake at 16.2 per cent YoY till September 09, 2022, up from 6.7 per cent a year ago. The growth has been across board — retail, industry, services and agriculture — ahead of the festive season and beginning of the busy season in October 2022, bankers said.
YES Bank’s deposit pool expanded by 13.2 per cent YoY to Rs 2 trillion at the end of September 2022. They grew by 3.5 per cent sequentially over Rs 1.93 trillion in June 2022 according to the filing with BSE. The share of low-cost money — Current Account and Savings Account (CASA) — in deposits was 31.3 per cent as of September 30, 2022, up from 30.3 per cent as of September 30, 2021. It moderated marginally from 30.6 per cent as of June 30, 2022.
IndusInd Bank’s deposits grew by 15 per cent YoY to Rs 3.15 trillion at end of September. They grew by 4 per cent sequentially over Rs 3.03 trillion in June 2022 according to filing with BSE. The share of low-cost money — CASA — in deposits for IndusInd bank moved up marginally to 42.4 per cent as of September 30, 2022, from 42.1 per cent a year ago. It, however, moderated from 43.2 per cent as of June 30, 2022.
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